my profile | my password | search | faq & rules | forum home

» Film-Tech Forum ARCHIVE   » Operations   » Ground Level   » Regal Cinemas takes over another one. (Page 1)

This topic comprises 2 pages: 1  2

Author Topic: Regal Cinemas takes over another one. Dennis Benjamin Phenomenal Film Handler Posts: 1445 From: Denton, MD Registered: Feb 2002 posted 01-15-2008 03:27 PM                        This is the company I work for Press Release Regal Entertainment Group Announces Agreement to Acquire Consolidated Theatres Knoxville, Tennessee - January 15, 2008 -- Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced that it has entered into an agreement to acquire Consolidated Theatres for approximately $210 million in cash. The proposed acquisition will add a total of 28 theatres with 400 screens to Regal's portfolio and enhance Regal's presence in Georgia, Maryland, North Carolina, South Carolina, Tennessee and Virginia. The consummation of the acquisition is subject to customary closing conditions. "We expect the acquisition of Consolidated Theatres to be accretive to cash flows and earnings and are pleased to announce an agreement to purchase these high quality assets," stated Mike Campbell, Chairman & CEO of Regal Entertainment Group. "Accretive acquisitions are a key component of our overall business strategy and we look forward to a successful closing and integration of the Consolidated Theatre assets during the first half of 2008," Campbell continued. Forward-looking Statements: This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the risk factors contained in the Company's 2006 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2007. All forward-looking statements are expressly qualified in their entirety by such factors. About Regal Entertainment Group Regal Entertainment Group (NYSE: RGC) is the largest motion picture exhibitor in the world. The Company's theatre circuit, comprising Regal Cinemas, United Artists Theatres and Edwards Theatres, operates 6,355 screens in 526 locations in 39 states and the District of Columbia. Regal operates theatres in all of the top 25 and 43 of the top 50 U.S. designated market areas. We believe that the size, reach and quality of the Company's theatre circuit not only provide its patrons with a convenient and enjoyable movie-going experience, but is also an exceptional platform to realize economies of scale in theatre operations. Additional information is available on the Company's Web site at www.REGmovies.com. Financial Contacts: Don De Laria Regal Entertainment Group Vice President - Investor Relations 865-925-9685 don.delaria@REGmovies.com Media Contact: Dick Westerling Regal Entertainment Group Senior Vice President - Marketing 865-925-9539 dick.westerling@REGmovies.com  |  IP: Logged David Stambaugh Film God Posts: 4021 From: Eugene, Oregon Registered: Jan 2002 posted 01-15-2008 04:19 PM                        quote: Dennis Benjamin to realize economies of scale in theatre operations Stupid economies of scale!  |  IP: Logged Paul Van Dusen Film Handler Posts: 82 From: Roanoke, VA Registered: Feb 2006 posted 01-15-2008 10:25 PM                        Well, Consolidated USED to be a top notch company hell bent on excellent presentation. I guess we'll see if that continues.  |  IP: Logged Bill Enos Film God Posts: 2081 From: Richmond, Virginia, USA Registered: Apr 2000 posted 01-15-2008 11:02 PM                     Consolidated's Commonwealth 20 has been so much better than the Regal houses it's been worth the drive across town, I guess soon it will be as mediocre as the rest of the Regals.  |  IP: Logged Ed Alvarado Film Handler Posts: 60 From: Fort Worth, TX,usa Registered: Oct 2004 posted 01-16-2008 12:22 AM                        wow dude as an ex- :fu:REGAL:fu: employee I WISH AND HOPE THEY GO OUT OF BUSINESS but thats just me and i hope anybody who works for them besure to cover your back all times.  |  IP: Logged Chris Slycord Film God Posts: 2986 From: 퍼항시, 경상푹도, South Korea Registered: Mar 2007 posted 01-16-2008 12:34 AM                     quote: Ed Alvarado wow dude as an ex- :fu:REGAL:fu: employee I WISH AND HOPE THEY GO OUT OF BUSINESS but thats just me and i hope anybody who works for them besure to cover your back all times. 1) Grow up. 2) Learn some grammar.  |  IP: Logged Christopher Duvall Jedi Master Film Handler Posts: 500 From: Denver, CO Registered: Dec 1999 posted 01-16-2008 09:48 PM                     quote: Ed Alvarado wow dude as an ex- :fu:REGAL:fu: employee I WISH AND HOPE THEY GO OUT OF BUSINESS but thats just me and i hope anybody who works for them besure to cover your back all times. Let me guess...you got fired from Regal because you did not agree with management. Sorry you had a bad experience with them but they have treated me very well for the 13 years I have been working for them and guess what...I actually give a damn about presentation. There are quite a few of us out there too. Because YOU had a bad experience does not mean that the company as a whole SUCKS. Do not get wrong, it is not perfect by any means and there are problems that need to be addressed but NO company is perfect and has no problems. My suggestion is to you is to... 1. Like Chris Slycord stated...Grow up. 2. Think your arguments through before you post flame bait on a public forum. Dennis and I have brief history with each other in Regal and he is good people. He has also had problems with Regal that were unfortunate but happened. At least he was an adult about it and did not put a post out there with ignorant wording like "regal sux...just because."  |  IP: Logged Dennis Benjamin Phenomenal Film Handler Posts: 1445 From: Denton, MD Registered: Feb 2002 posted 01-16-2008 10:07 PM                        I have no ill feelings for anyone at Regal Cinemas. Mike, Charlie, and Rick Campbell have always treated me with respect. Most of the people I had issues with no longer work for Regal. I have this 'thing' about Corporate America, that's all. Working for a Giant Chain has it's ups and downs. I really just wanted to work for one company for longer than 5 years. Every time I turn around, someone is buying out someone else. I have personally been involved with three buyouts in my career. It gets old after a while. You know? Mr. Stone (president of Consolidated) is one of the nicest guys I have ever met. I wish I could have worked for him longer. But that's not going to happen. We will see how things go in the coming months. Maybe it's not such a bad thing. A theatre is only as good as the manager running it.  |  IP: Logged Jeremy Weigel Phenomenal Film Handler Posts: 1062 From: Edmond, OK, USA Registered: Mar 2007 posted 01-17-2008 01:30 AM                     quote: Dennis Benjamin A theatre is only as good as the manager running it. This is a painfull truth for most.  |  IP: Logged Monte L Fullmer Film God Posts: 8367 From: Nampa, Idaho, USA Registered: Nov 2004 posted 01-17-2008 04:22 AM                     I also used to work for REG, but had to leave since I was denied benefits-benefits that I could have had if the manager would have followed his DM's instructions on the payscale that the DM granted me which matched the ast. mgr's title - which projection people were automatically assigned as ast.mgrs anyway. But the manager didn't want me to have that title and thus HR listed me as floorstaff, which is denied mgr benefits that I desparately needed due to my health conditions. Otherwise, I had no probs with REG either-just the adjustment from EDWs to REG was the hard part to accept and be adjusted with. One has to remember: You went to the employer to get a job. T hat employer didn't come to you. If you act up and fail at the job, don't blame the employer for your actions since things didn't go your way and you were thinking that you were RIGHT all the time. When you got hired on with that employer, you accepted their conditions and work requirements - sorry, doesn't work the other way. -Monte  |  IP: Logged Steve Guttag We forgot the crackers Gromit!!! Posts: 12814 From: Annapolis, MD Registered: Dec 1999 posted 01-17-2008 06:18 AM                     Unless, of course, you unionize and get a collective bargaining agreement. Then the working conditions, benefits and such can be negotiated. Oddly enough, management is denied such opportunities...particularly lower-management that normally don't reap any benefits of the title.  |  IP: Logged Monte L Fullmer Film God Posts: 8367 From: Nampa, Idaho, USA Registered: Nov 2004 posted 01-17-2008 02:51 PM                     ..which I did have when I was in the union. But Idaho did the most stupidest thing by voting for the right-to-work along with circuits not renewing contracts, yet 'grandfathering' us into their employee system so we can keep our jobs and positions. Yes, I was miffed on what that mgr did to me - thinking that I was one of his better employees until he was told that, with my payscale, that I'd be assigned the title of an ast.mgr .. and that didn't set with him at all.  |  IP: Logged James Westbrook Phenomenal Film Handler Posts: 1133 From: Lubbock, Texas, Usa Registered: Mar 2006 posted 01-17-2008 03:04 PM                     If I wanted to, I could go on a rant about Mann Theatres (the Southern Californian chain) as I was let go by them. However, I talked to the press about why the movies on screen were so dark there and...suffered the repurcussions. I did it. I own up to it. I moved on. I was working there one shift a week anyway. After Cinemark aquired the Mann theatres in Lubbock and Amarillo, they aquired the UA theatre in Lubbock and I ended up back inside that building again (this being the Fox theatre.) But I don't talk to the press... And I don't air my theatres' dirty laundry on line. If one has a case against their former employer, and can legally justify it, take them to court. If not, move on.  |  IP: Logged Ron Funderburg Jedi Master Film Handler Posts: 814 From: Chickasha, Oklahoma, USA Registered: Nov 2007 posted 01-17-2008 03:19 PM                        Who has not worked for both good and bad employers? I have had both, major chains, little chains, mom and pop. What makes it good or bad is the local managers and the DM's the upper management only makes it either easy or hard to be good but a good manager runs a good theater and makes it so! A bad manager it doesn't matter what group he works for has issues!  |  IP: Logged James Westbrook Phenomenal Film Handler Posts: 1133 From: Lubbock, Texas, Usa Registered: Mar 2006 posted 01-17-2008 03:23 PM                     There is a proverb: The Fish Stinks From The Head Down. The head, in this case, would be the theatre manager.  |  IP: Logged

All times are Central (GMT -6:00)

This topic comprises 2 pages: 1  2

Printer-friendly view of this topic

Hop To: Select a Forum: Category: Operations -------------------- Digital Cinema Forum Film Handlers' Forum Large Format Forum Ground Level Feature Info, Trailer Attachments & REAL Credit Offsets Category: Community -------------------- Film-Yak Film Handlers' Movie Reviews The Afterlife Bob Maar's Joke-A-Thon Category: Classified -------------------- Equipment and Supplies Wanted/For Sale Help Wanted/Seeking Employment Category: System -------------------- Software Beta Testing Forum

The Film-Tech Forums are designed for various members related to the cinema industry to express their opinions, viewpoints and testimonials on various products, services and events based upon speculation, personal knowledge and factual information through use, therefore all views represented here allow no liability upon the publishers of this web site and the owners of said views assume no liability for any ill will resulting from these postings. The posts made here are for educational as well as entertainment purposes and as such anyone viewing this portion of the website must accept these views as statements of the author of that opinion and agrees to release the authors from any and all liability.